Price cap to have Russian oil flow despite embargo – tanker rates continue to surge
Freight rates on the crude oil and product tanker markets continue upwards. The G7 have decided on a price cap that will make Russian oil flow to non-EU and non-G7 countries without Russia making extraordinary profits. ”Good news,” says Clarksons.
Progress made by crude oil and product tanker carriers, of which several have booked record-high earnings in the second quarter, continues as rates that have increased further in recent weeks due to demand.
CII: IMO’s new climate regulation, CII, is liable to undermine its own intentions, German carrier Oldendorff warns. CII fails to view situation in its entirety, which may lead to an increase in emissions.
CII: Although a new legal clause places the responsibility and bills for poor climate ratings with operators and carriers, this has not altered Seaspan’s negotiations with customers, the major shipowner tells ShippingWatch.